AmpereHour Energy Secures $5 Million Funding for Expansion

13 Mar 2025 CW Team

The agreement between the two companies has been signed through Singularity Growth Opportunities Fund II, under which Singularity AMC acquired a 9.6% stake in HEG and Bhilwara Energy for Rs 2.5 billion (~$28.64 million). Additionally, the firm holds the option to acquire a further 9.6% stake with a similar investment.

HEG currently holds a 49.01% stake in Bhilwara Energy and will divest 4.71% of its shares through this transaction. The partnership intends to create a robust energy transition platform focusing on various sectors, including power assets, battery-grade anode materials, food-grade bottle-to-bottle recycling, graphene, and advanced battery systems manufacturing for energy storage and electric vehicles.

Commenting on the development, Yash Kela, Partner at Singularity AMC, said, “We are excited to partner with Bhilwara Energy and HEG in their ambitious journey to create a leading energy transition platform that focuses on clean energy solutions, advanced carbon materials, and innovative battery technologies.”

The collaboration will emphasize driving organic growth, establishing new greenfield projects, and pursuing strategic acquisitions and partnerships. With this investment, Bhilwara Energy is nearing its total fundraising target of Rs 30 billion (~$343.71 million).

Earlier, in May 2024, HEG approved the demerger of its graphite business, transforming the existing company into a platform for green energy businesses. These include hydro and wind energy through Bhilwara Energy, energy storage solutions via RePlus, and advanced carbon business through The Advanced Carbons Company.

Replus Engitech, a subsidiary of Bhilwara Energy, commissioned a 550 MWh Battery Energy Storage System (BESS) manufacturing plant in 2021. The company also holds 1,261.52 MW of hydropower projects and 14 MW of wind power projects under its subsidiaries.

Additionally, Bhilwara Energy emerged as one of the winners of the Gujarat Urja Vikas Nigam’s Phase IV standalone BESS auction held in December 2024.

The investment comes when corporate funding for energy storage companies, including VC investments, public market funding, and debt financing, grew by 5% year-over-year. According to Mercom Capital Group’s Annual and Q4 2024 Funding and M&A Report for Storage & Grid, corporate funding for energy storage companies rose to $19.9 billion across 116 deals in 2024, compared to $19 billion across 120 deals in 2023.

The strategic partnership between Singularity AMC and Bhilwara Energy is expected to drive innovation and accelerate the transition to cleaner energy solutions in India.

Growth equity firm Singularity AMC, backed by prominent investor Madhusudan Kela, is investing Rs 5 billion (~$57.2 million) in Madhya Pradesh-based renewable energy company Bhilwara Energy. The investment aims to establish an integrated energy transition platform named HEG Greentech. The agreement between the two companies has been signed through Singularity Growth Opportunities Fund II, under which Singularity AMC acquired a 9.6% stake in HEG and Bhilwara Energy for Rs 2.5 billion (~$28.64 million). Additionally, the firm holds the option to acquire a further 9.6% stake with a similar investment. HEG currently holds a 49.01% stake in Bhilwara Energy and will divest 4.71% of its shares through this transaction. The partnership intends to create a robust energy transition platform focusing on various sectors, including power assets, battery-grade anode materials, food-grade bottle-to-bottle recycling, graphene, and advanced battery systems manufacturing for energy storage and electric vehicles. Commenting on the development, Yash Kela, Partner at Singularity AMC, said, “We are excited to partner with Bhilwara Energy and HEG in their ambitious journey to create a leading energy transition platform that focuses on clean energy solutions, advanced carbon materials, and innovative battery technologies.” The collaboration will emphasize driving organic growth, establishing new greenfield projects, and pursuing strategic acquisitions and partnerships. With this investment, Bhilwara Energy is nearing its total fundraising target of Rs 30 billion (~$343.71 million). Earlier, in May 2024, HEG approved the demerger of its graphite business, transforming the existing company into a platform for green energy businesses. These include hydro and wind energy through Bhilwara Energy, energy storage solutions via RePlus, and advanced carbon business through The Advanced Carbons Company. Replus Engitech, a subsidiary of Bhilwara Energy, commissioned a 550 MWh Battery Energy Storage System (BESS) manufacturing plant in 2021. The company also holds 1,261.52 MW of hydropower projects and 14 MW of wind power projects under its subsidiaries. Additionally, Bhilwara Energy emerged as one of the winners of the Gujarat Urja Vikas Nigam’s Phase IV standalone BESS auction held in December 2024. The investment comes when corporate funding for energy storage companies, including VC investments, public market funding, and debt financing, grew by 5% year-over-year. According to Mercom Capital Group’s Annual and Q4 2024 Funding and M&A Report for Storage & Grid, corporate funding for energy storage companies rose to $19.9 billion across 116 deals in 2024, compared to $19 billion across 120 deals in 2023. The strategic partnership between Singularity AMC and Bhilwara Energy is expected to drive innovation and accelerate the transition to cleaner energy solutions in India.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Real Estate

09 Mar 2026

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..